This episode provides updates on China’s currency moves, adjuncts unionizing, Pepsi and Coke offering self-serving health advice and Rand Paul’s misunderstanding of economics. We also respond to questions regarding what happened to US real wages from 1974 to 2014. Finally, we give an in-depth critical analysis on the toxic effects of rising inequality and the role of psychologists play in advertising.

Richard D. Wolff is professor of economics emeritus at the University of Massachusetts, Amherst, where he taught economics from 1973 to 2008. He is currently a visiting professor in the Graduate Program in International Affairs of the New School University, New York City. He also teaches classes regularly at the Brecht Forum in Manhattan. Earlier he taught economics at Yale University (1967-1969) and at the City College of the City University of New York (1969-1973). In 1994, he was a visiting professor of economics at the University of Paris (France), I (Sorbonne). His work is available at rdwolff.com and at democracyatwork.info.

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